According to the insights found on Wise Guy Reports (WGR), the memristor market was estimated at USD 12.693 million in 2017 and is set to reach the valuation of USD 191.501 million by 2023. The market is exhibited to grow at a staggering CAGR of 57.19% over the forecast period (2018-2023).

Drivers and Restraints

Memristors help develop energy-efficient computing systems with a dynamic memory which can perpetuate information even after the power is turned off. Moreover, memristors are used extensively in remote sensing applications and can replace transistors and also imitate neuromorphic and biological systems.

In addition, the market also benefits from advancements in technology like increasing use of cloud computing, as well as penetration of internet of things (IoT) or big data trends in the sector creating demand for powerful hardware components. Also, factors such as lower heat generation, improved performance, and the growing adoption across multiple applications are propelling the global market for memristor. But the complexity of memristors makes their implementation in systems challenging which in turn curbs its adoption.

However, market giants like HP and Lenovo are progressively investing in the technology, leading to subsequent innovations in these sectors. This factor will help the memristors market climb to a higher level on a global platform. Apart from this, rising automation needs across several industries are leading to massive demand for memristors, positively affecting the overall market.

Market Segmentation

The global memristor market has been segmented, based on type, application, and industry vertical.

The application-wise segments include analog, memory, digital, and neuromorphic.

As per industry vertical, the market caters to IT and telecommunication, automotive, consumer electronics and others. Among these, the electronics segment led the global market as memristors have emerged as a viable and highly efficient substitute of flash memories, mainly in electronic devices. This has driven their traction in the electronic industry.

Regional Outlook

The global memristor market is spread across the key regions of North America, Asia Pacific, Europe, and the Middle East & Africa.

Among all the regions, North America is set to witness substantial adoption of memristor devices due to the strong foundation of thriving industries in the region. Moreover, increasing research and development activities, in addition to the strong presence of a highly informed consumer base compared to other regions has put North America on top in the global market. Also, the region is one of the key contributors to the majority of applications of memristors, such as IoT, flexible electronics, and industrial robotics. Furthermore, leading companies such as Hewlett-Packard and SanDisk Corporation are located in the United States, which is another primary factor that contributes to the regional market growth.

Going forward, Europe seems to be making similar strides, with the growing number of leading players who indulge in research and development (R&D) activities. Also, the developed economies in the region are amongst the first ones to incorporate the advanced technologies. On the other hand, the unprecedented surge in electronic devices in the Asia Pacific has opened lucrative opportunities for the memristor market in the region.

The key industry players include Crossbar, Rambus, HP Development Company LP, Fujitsu, Knowm Inc., among others.

Industry News

November 2018 – The University of Massachusetts Amherst has developed a building block for the next generation of nonvolatile random-access memory, bio-inspired computing systems as well as artificial neural networks. The memristor crossbar arrays built are touted to be the first high-density electronic circuits that have individually addressable components and are built with foundry-compatible fabrication technologies.